Kanishk Aluminium India IPO Day 1: Check subscription status, GMP, price band and other details of SME IPO | Stock Market News

Kanishk Aluminium India IPO: The initial public offering (IPO) of Kanishk Aluminium India opened for bidding on Wednesday, January 28 and will remain available for subscription till Friday, January 30.

The fixed-priced SME IPO, worth ₹29.20 crore, is entirely a fresh share sale of 0.40 crore shares priced at ₹73 apiece. Investors can apply for Kanishk Aluminium India IPO in a lot size of 1600 shares. The minimum investment needed by a retail investor is ₹2,33,600 as they need to bid for at least two lots.

Kanishk Aluminium India plans to use the IPO proceeds for repayment of certain borrowings availed by the company, branding and promotion of the company brand and general corporate purposes.

The allotment for the Kanishk Aluminium India IPO is expected to be finalised on February 2, while shares of Kanishk Aluminium India IPO will list on BSE SME on February 4.

Kanishk Aluminium India IPO subscription status

Kanishk Aluminium India IPO was booked 3% so far as of 12.55 pm. The retail investor portion was subscribed 6% while the non-institutional investor (NII) quota was booked 1%.

The offer received bids for 1,28,000 shares as against 38,00,000 shares on offer.

Kanishk Aluminium India ipo gmp

Kanishk Aluminium India IPO grey market premium (GMP) today stood at ₹0. This means that shares of Kanishk Aluminium India are trading at par with the offer price.

Investors are likely to see no discount or premium on their investment in the IPO, according to current GMP trends.

Kanishk Aluminium India Details

Kanishk Aluminium India specialises in manufacturing a comprehensive range of aluminium extrusion products, including solid and hollow section profiles, solar profiles, railings, heatsinks, and sliding and fixed windows and doors.

Its products cater to a diverse range of industries, such as electronics, automotive, mechanical, solar, furniture, transport, electrical, and architecture.

In 2024, the company launched its brand, “Baari by Kanishk,” which specialises in premium aluminium system doors and windows. Under the Baari brand, the company designs and manufactures a wide range of high-quality door and window systems, including sliding doors, casement series, slide-and-fold doors, lift-and-slide doors, fixed panels, and more.

Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.